Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    105 Spenryn Drive Madison, AL 35758

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $450,000

    Corner lot near Highway 565, Toyota Field, and Huntsville Airport.

    Type:Lots/Land
    Added:
    Feb 20, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 7 at 11:46 pm

    Property Features for 105 Spenryn Drive

    General Information

    Standard status
    Active
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Alex Mukai
    Alex Mukai

    Listing agent Alex Mukai License #99826

    Listing office Avanti Realty Services LLC

    Listing date Feb 20, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Avanti Realty Services LLC

    Overview

    Commercial Corner Lot For Sale

    This commercial corner lot is located approximately 1 mile from Highway 565 and 1.75 miles from Midtown Madison, Toyota Field, and Huntsville International Airport. The lot features 408 feet of road frontage. Additional acreage is available across the street within a 38-acre parcel located on Garner Road and Celtic Drive.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Madison
    State
    Alabama
    Longitude
    -86.7507098
    Latitude
    34.6822501

    Nearby Similar for Sale

    • $379,000
      1,956 SF

      Unzoned Madison County Commercial Property

      Unzoned commercial property suitable for various business and medical uses.
      469 Gillespie Road, Madison, AL 35758
      View Details
    • $399,900

      Unzoned Land Near Highway 72

      6 +/- acres with commercial, multi-family, or residential potential.
      6A Nance Road, Madison, AL 35757
      View Details
    • $800,000

      Commercial Lot on Madison Blvd

      Prime commercial lot with high-traffic exposure near Huntsville Airport.
      Madison Blvd lot: 1, Madison, AL 35758
      View Details
    • $795,000
      3,375 SF

      Madison, AL Commercial Opportunity

      3,375 SF facility suitable for various businesses.
      1489 Slaughter Road, Madison, AL 35758
      View Details
    • $524,000

      Commercial Land on Highway 72

      Prime commercial land in Madison with high traffic volume.
      7627 Highway 72 W, Madison, AL 35758
      View Details
    • $450,000

      Undeveloped Land in Madison, AL

      Unzoned land near schools, restaurants, and shopping in Madison.
      105 Monrovia Cove Lane, Madison, AL 35757
      View Details
    • $350,000

      Madison Commercial Land For Sale

      5 acres of commercial land in Madison, Alabama.
      5 Mose Chapel Road, Madison, AL 35758
      View Details
    • $859,000
      3,373 SF

      Madison Retail Property For Sale

      Commercial property in Madison, Alabama, suitable for retail businesses.
      401 Slaughter Road, Madison, AL 35758
      View Details
    • $1,995,000
      17,755 SF

      Madison Office Building For Sale

      Multi-tenant office building near I-565 in Madison, Alabama.
      26670 Success Drive, Madison, AL 35756
      View Details
    • $2,500,000
      800 SF

      Unzoned Acreage Near Highway 72

      4.2 acres of unzoned land near Highway 72.
      30633 Highway 72, Madison, AL 35758
      View Details
    • $450,000

      Commercial Lot in Madison, AL

      Commercial lot for sale near schools, shopping, and aerospace.
      102 Ivory Place, Madison, AL 35758
      View Details
    • $1,200,000

      Commercial Land in Madison, AL

      Prime commercial land opportunity in Madison, Alabama.
      754 Hughes Road, Madison, AL 35758
      View Details

    FAQs

    What type of property is this?
    Commercial land - Corner lot near Highway 565, Toyota Field, and Huntsville Airport.
    Where is this commercial land located?
    The property is located at 105 Spenryn Drive Madison, AL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Excellent commercial corner lot location.; Approximately 1 mile from Highway 565.; Approximately 1.75 miles from Midtown Madison, Toyota Field, and Huntsville International Airport.
    (256) 714-1300
    We can help!
    Listing Contact
    Alex Mukai
    Alex Mukai
    Real Estate License ID: 99826
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!